growth andRR DONNELLEY

2006 ANNUAL REPORT

expansionContents

Financial Highlights – 1

To Our Shareholders – 2

Chairman’s Message – 3

RR Donnelley Facts – 5

Global Innovation – 6

Board of Directors – 8

Form 10-K – 9

Corporate Information – Inside Back Cover

Innovative new products and services, skilled cross-selling, swift integration of strategic acquisitions, and a relentless focus on execution combine to drive growth and expansion at RR Donnelley.

RR Donnelley is the world’s premier provider of printing and business services.

The products that we produce and the services that we provide may touch your life each day. Read a book or a magazine. Shop at a store or through a catalog. Look up a phone number and then review your phone bill on-line. Receive a package. Review a fi nancial report. RR Donnelley can play a vital role in enabling each of these activities. We help customers in publishing, fi nancial services, communications, manufacturing, healthcare, government, and many other public and private segments enhance communications and improve transactions.

In 2006 we introduced innovative new products and services, such as CustomPointSM, a comprehensive, Internet-based suite that connects customers to our premedia, production, logistics, and business services capabilities. Customers increased the scope of their relationships with RR Donnelley as they drew on the unmatched breadth of our product and service mix to achieve their procurement, marketing, communications, and other vital goals. We extended our reach and our capabilities with strategic acquisitions, and we continued to strive for operational excellence in every phase of our business.

Underpinning our achievements in 2006 is a deep commitment to positioning RR Donnelley for continued growth and expansion.

PREPARE

Color Services & PrepressCompositionContent Conversion for the WebCreative ServicesDigital Asset ManagementDigital Workfl ow SolutionsDirect Marketing CampaignsFacilities ManagementPackaging DesignPhotographySoft Proofi ng & CollaborationTranslation Services

PRODUCE

BooksCatalogsSheet-fed, Web and Offset Commercial PrintingFinancial PrintingDigital PrintingDirect Mail Printing, Imaging and Fulfi llmentDirectoriesForms and LabelsHTML ConversionMagazinesRetail Inserts SEC EDGAR® FilingsSignage and BannersTOPS® Offi ce Products

DELIVER

Compliance ManagementExpedited ServicesFulfi llmentInternational MailInventory ManagementPrint DistributionThird Party Logistics ManagementTracking and MeasurementUSPS Drop Shipping

PROVIDE

Business Process OutsourcingPrint and Media SolutionsDocument Outsourcing and ManagementBusiness Communication ServicesSupply Chain Management SolutionsDocument Print and Mail ServicesPrint and Document ManagementCall CentersFinancial Analysis and ReportingLitigation SupportDatabase ServicesMarket Research

(in millions, except per share data) 2006 2005 % change

Net sales(1) $ 9,316.6 $ 8,430.2 10.5%

Income from continuing operations(1)* 750.7 450.4 66.7%

Net earnings from continuing operations(1)** 402.6 95.6 321.1%

Net earnings from continuing operations per diluted share(1)** 1.84 0.44 318.2%

Income (loss) from discontinued operations, net of tax (2.0) 41.5 (104.8%)

Net earnings** 400.6 137.1 192.2%

Net earnings per diluted share** 1.83 0.63 190.5%

(1) Refl ects results of acquisitions from the relevant acquisition dates and excludes results of discontinued operations.

* Includes the following signifi cant items affecting comparability: • For 2006: net restructuring and impairment charges of $206.1 million, and

• For 2005: net restructuring and impairment charges of $419.8 million, acquisition-related charges of $8.3 million. ** In addition, 2006 includes a write-down of investments in affordable housing of $16.9 million, a gain on sale of

investments of $7.0 million, and a tax benefi t from the realization of a deferred tax asset of $23.5 million.

FINANCIAL HIGHLIGHTS

REVENUESRR Donnelley net sales totaled $9.3 billion in 2006.Segment results are shown below.

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62%38%2%2% Global Print Solutions 62%

Global Services 38%

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Part of this growth has been fueled by the strategic acquisitions that have added fresh talent, increased our geographic reach, and expanded the range of resources that we offer to our blue chip customer base. Organic growth, revenue increases that occur when customers choose to award new business to us, also plays a vitally important role in helping RR Donnelley to achieve our goals. Each of our reporting segments, Global Print Solutions and Global Services, posted pro forma organic revenue growth during 2006. Our earnings growth also refl ects the fi nancial discipline and cost control that we have ingrained into our corporate DNA. Each day, our talented employees explore fresh options for increasing productivity and reducing costs.

Expanding Capabilities.Our magazine, catalog, book, retail inserts and commercial printing groups benefi t from demand that

traditionally surges during the busy fourth quarter merchandising and advertising season. Our success in winning new multi-year contracts – many of which call for us to handle 100% of our customers’ print-related needs – created a need for additional production capacity. The strategic acquisitions of Banta Corporation, Perry Judd’s, and Von Hoffmann that we announced near the close of 2006 address this need. These acquisitions also, over time, will reduce capital spending requirements and create fresh opportunities for us to exercise our proven ability more effi ciently to load our enhanced platform through- out the year. In June of 2005 we acquired Astron, a UK-based provider of document management business process outsourcing services. Now re-branded as RR Donnelley Global Document Solutions, this business is complemented by our acquisition

during 2006 of Offi ceTiger. We are now even better positioned to provide judgment-based, end-to-end document management and business process outsourcing (BPO) services world-wide. Customers who already know RR Donnelley as a great printer are discovering that we are also an exceptional provider of business services. Our BPO capabilities include inbound-document, outbound-document, and facilities management services, as well as sophisticated fi nancial analysis and reporting, litigation support, market research, database services, credit analysis, claims processing, desktop publishing, creative services, and more. Global Document Solutions and Offi ceTiger create competitive distinction with an on-site, off-shore service model that combines a deep understanding of customers’ needs with a cost-effective ability to respond quickly from centers of excellence in Asia. We also added during 2006 the fi nancial printing assets and operations of Canadian Bank Note, including operations in Toronto and Montreal, and implemented a joint fi nancial printing venture in the United Arab Emirates. The RR Donnelley Financial Services network now spans 43 countries to serve the world’s fi nancial centers and is a leading provider

In 2006 we continued to deliver on our promise to grow RR Donnelley. With 2006 revenues exceeding $9.3 billion, our company’s net sales were up more than 10.5% as compared with 2005 and have increased by more than 30% since 2004. Income from continuing operations exceeded $750 million, an increase of 66.7% from 2005.

DEAR FELLOW SHAREHOLDERS

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of project management and printing of initial public offerings, mergers, equity and debt offerings, and US compliance fi lings.

Expanding Innovation.Each day tens of thousands of people log-in to RR Donnelley-designed and other websites to access content and decision-support resources that we furnish. For example, we archive and host more than 4.4 billion personal-ized documents, such as billing statements, for Internet retrieval and viewing. Customers access our award-winning OneSiteSM Internet tool that connects RR Donnelley’s transportation tracking network with the US Postal Service’s scheduling data to provide a diverse new range of tracking and reporting tools. Using OneSite, mailers can track their mailing campaigns as the fi nished mail pieces leave the production facility, travel through our unmatched logistics network and are processed by the USPS. Precisely on our promised sched-ule, we introduced CustomPointSM, a powerful new web-enabled solution that enables enterprise-level digital print ordering, on demand fulfi llment, direct mail campaign management, document customization and compre-hensive print management.

CustomPoint is integrated with RR Donnelley’s network of offset and digital print and fulfi llment operations, providing the required scale and technology to serve enterprise clients with multi-faceted print customization, management and fulfi llment needs. It offers the capacity to activate customized printing, from anywhere on the globe with Internet access, and by leveraging RR Donnelley’s proprietary print-on-command soft-ware, optimally to route the output to anywhere and everywhere in RR Donnelley’s worldwide digital print and fulfi llment network. With a foundation drawn from premedia, dynamic publishing, digital printing, and print management Internet tools developed originally in several different business units, CustomPoint is characteristic of the way that we create fresh capabilities by blending the best-of-the-best technology elements from across RR Donnelley.

Expanding Responsibilities.As 2006 came to a close, the President of the United States signed into law the Postal Accountability and Enhancement Act. We worked tirelessly, in cooperation with many of our leading customers and others, to contribute to the passage of this

landmark legislation. The majority of mail products that we handle – First Class, Standard, and Periodical – will have future rate hikes tied to the Consumer Price Index. The law’s effect will be to provide our customers with more predictable rates and fewer hikes over time, allowing mail to continue to play its growing role as the leading medium for publishers, catalogers, and direct response mailers. As a large producer of mail and other printed materials, and as a responsible corporate citizen of the world, we work to support sustainability in our supply chain. For example, we continue to pursue initiatives that support renewable resource manage-ment. By the close of 2006 our entire North American platform as well as all of our facilities in China had earned Forest Stewardship Council (FSC) certifi cation. These certifi cations enable us to provide chain-of-custody accountability that assures that the paper used in a given project is drawn from responsibly managed forest resources. If you look at the back cover of our printed Annual Report you will see the respected Checkmark and Tree FSC logo, indicating that the papers used to produce it originated in forests that were harvested with proven regard to responsible forestry practices.

Dear Fellow Shareholders,

On behalf of your Board of Directors, I am pleased to report that RR Donnelley continued to grow during 2006, as the company expanded its geographic reach, introduced new products and services, and added to its already impressive roster of customers. Your Board is actively focused on three vital constituencies – shareholders, customers, and employees. We are fully engaged in working with your

A MESSAGE FROM THE CHAIRMAN

management to set the company’s strategic direction. Everyone associated with RR Donnelley is accountable for the very highest standards of behavior and practices as they conduct business in accordance with the letter and the spirit of the law. All of RR Donnelley’s directors, offi cers, and employees regularly review clearly defi ned Principles of Ethical Business Conduct to ensure that your company’s business is conducted with integrity and full transparency.

We are pleased to join with RR Donnelley’s management in thanking your company’s employees for their performance and for their commitment to creating value for our shareholders.

Sincerely yours,

Stephen M. WolfChairman of the Board of DirectorsApril 2007

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The RR Donnelley brand connotes so much more than mere commodity printing. We are exceptionally well positioned to deliver 360 degree solutions that help customers to enhance the effectiveness of their communications and the effi ciency of their transactions.

These certifi cations give our customers another tangible option for demonstrat-ing their commitment to sustainability and renewable resource management.

Expanding Opportunities.Throughout 2006 customers and professional organizations recognized RR Donnelley for exceptional quality, of product and of service. The RR Donnelley brand connotes so much more than mere commodity printing. We are exceptionally well positioned to deliver 360 degree solutions that help customers to enhance the effec-tiveness of their communications and the effi ciency of their transactions.

In 2007, we intend to...

• Focus on customers. We will continue aggressively to pursue cross-selling opportunities with our diverse, global customer base, using our unmatched services offering and ability to create integrated end-to-end solutions for competitive advantage. Our Custom-PointSM, print-on-command, and many other proprietary value-added initiatives have just begun to scratch the surface.

• Emphasize operational excellence. First among the measures of operational excellence is safety. In 2006 RR Donnelley’s metrics for OSHA-defi ned safety categories outperformed the printing industry averages by

between 38% and 56%. We apply the OSHA defi nitions for safety categories to our facilities worldwide and will continue to strive for a completely injury-free workplace. During the past three years we have invested more than $1 billion to re-engineer our global platform. RR Donnelley’s talented employees are equipped to serve customers with exceptional premedia, production, logistics, and business services resources. We continue to seek and win projects and contracts that enable us most effi ciently to utilize our capacity, throughout the year and during seasonal peaks.

• Strive to be the low cost producer in each segment. Cost control and fi nancial discipline are not sometime things. At RR Donnelley, they are everytime things. We have demonstrated that we move swiftly to achieve promised cost savings as we integrate strategic acquisitions. However, cost reductions do not occur only as we eliminate redundancies. They arise from improving productivity, reducing waste, and assuring that the test for expendi-tures is whether or not they will help to increase sales and earnings.

• Continue to manage and invest our shareholders’ capital with a goal of maximizing returns over the long term.

The strategic acquisitions that we announced near the close of 2006 will expand our geographic reach, add fresh customer relationships and correspond-ing opportunities to cross-sell, and increase our manufacturing fl exibility. RR Donnelley is well positioned to deliver value to customers across the breadth of the supply chain, and even to undertake management of our customers’ supply chains. We intend to move swiftly in 2007 to realize value from cross-selling and other synergy opportunities as we integrate these exceptional organizations.

We are grateful to our shareholders for your confi dence in our strategy and execution, to our customers for the opportunities that they give us to create solutions that meet their needs, and to our employees who renew each day RR Donnelley’s global reputation for integrity, quality, and performance. All of us at RR Donnelley remain deeply committed to growth and expansion.

Very truly yours,

Thomas J. Quinlan, IIIPresident and Chief Executive Offi cer

April 2007

resources and

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Big Box We serve more than 95% of the largest retailers in the US, helping them to build store traffi c and sales through eye-catching retail inserts, catalogs, personalized direct mail promotions, signs and in-store displays, packaging labels, and more. Retailers all over the world recognize our exceptional quality and superior service.

It Is In The MailWithout direct mail, websites could be lost in cyberspace. RR Donnelley produces, personalizes, and mails more than 3 billion pieces of direct response mail annually. Direct mail continues to be a resilient and growing communications medium as marketers, fund-raisers, and merchants recognize its powerful ability to drive revenues and website traffi c. Even companies that began exclusively as Internet marketers have embraced direct mail’s ability to deliver measurable return on investment.

DigitalImagine all of the digital content that may be in your own life – music, pictures, documents. Now multiply it by tens of thousands, make it accessible across the world, and make every search deadline-intensive. That is the challenge associated with managing digital content. For increasing numbers of global customers, RR Donnelley is the solution. Our premedia facilities management teams and Internet tools help customers to manage more than 2.3 million digital assets.

GoldThat’s the quality standard, and RR Donnelley was again recognized with more mentions in the prestigious annual Gold Ink Awards than any other printer in the world. Our employees’ craftsmanship was recognized in categories including magazines, books, newspaper inserts, catalogs, brochures, packaging, and more. We delight customers by bringing their creative concepts to life on paper.

FSC CoCRR Donnelley is part of the Forest Stewardship Council Chain-of-Custody system that connects responsible forest management practices with consumers. It provides an internationally consistent basis for tracing the origins of wood/fi ber materials such as paper. In 2006, RR Donnelley continued its commitment to sustainability, as we achieved FSC certifi cation for all of our facilities in North America and for our entire China Platform.

Neither Snow Nor RainTo save our customers signifi cant postage costs, RR Donnelley is a leading participant in the US Postal Service’s worksharing initiatives. Our logistics business handles nearly 60% of domestic Standard Mail, using innovative strategies that deliver catalogs, magazines, and other mailings deeper into the postal stream for greater cost savings as well as more predictable delivery. The USPS presented RR Donnelley with a 2006 Innovation Award in recognition of our ground-breaking OneSiteSM postal reporting system.

Wall StreetRR Donnelley Financial Services fi led more than 83,000 EDGAR Filings and produced 1.7 million EDGAR pages in 2006, helping to provide the business and fi nancial data needed by fi nancial professionals and individual investors to make decisions. We also produced 1 billion printed pages delivered to 140 countries worldwide as part of Standard Life’s demutualization and initial public offering.

CheckLast year RR Donnelley imaged checks with amounts that added up to tens of billions of dollars, as we provided print-and-mail outsourcing resources to fi nancial services companies that are attracted by our secure processes for personalizing and processing vital documents. We also quickly, accurately, and cost effectively processed more than 90 million personalized tax documents. For people who check their cell phone bills and other documents on-line, we post more than 4.4 billion documents for Internet retrieval and review.

global innovation

(1) Near the close of 2006 RR Donnelley announced agreements to acquire Banta Corporation, Perry Judd’s, and Von Hoffmann. Increasing vital magazine, catalog, commercial printing, book, label and other production capacity adds fresh cross-selling opportunities, and expands our range of supply chain manage-ment services. (2) Acquisition of Offi ceTiger, now an RR Donnelley company, adds business process outsourcing expertise and resources in the US, India, Sri Lanka, and the Philippines and complements UK-based RR Donnelley

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Expanding Capabilities. In each segment that we serve, RR Donnelley services and innovations add value to the exceptional printing that we provide.

CustomPointSM Intelligent Print Management.

• A multi-chapter organization dedicated to fi ghting disease needs customized posters, brochures, and mailings to inspire people to join in its fund-raising activities.

• A communications company needs to create advertisements, drawing on a digital library of logos and pictures.

• A leading car and truck manufacturer needs to equip its dealers with highly customized collateral materials.

All of these organizations, and a myriad of others, turn to CustomPoint, for a suite of Internet-accessible tools that enable digital printing, digital asset management, inventory management and much more. Linked virtually in real-time to our network of print and logistics centers, CustomPoint helps customers slash expensive obsolescence costs, acceler-

ate their speed-to-market, generate higher returns for their print expendi-tures, and speak to clients in a one-to-one voice. CustomPoint is a powerful business-to-business site, offering capabilities that even popular consumer sites do not. For example, it recognizes indi-vidual users, and presents to each in a secure environment, the catalogs from which they are supposed to order. It even guides more effi cient ordering behavior, with min/max quantity controls and options for on-demand printing. CustomPoint creates a distinct competitive advantage for RR Donnelley.

OneSiteSM & Print Track&Trace. The arrival of catalogs and other marketing communications in your mail-box is carefully timed. So our customers want to be able to track their mailings through our logistics network and the United States Postal Service with accuracy and confi dence. Our OneSite on-line system is the fi rst to combine post-production shipment tracking and USPS network tracking into one synchronized report.

OneSite provides an entirely new range of tracking and reporting tools designed to maximize opportunities for our customers to capitalize on mailing campaign effectiveness. We use sophisticated information technology and precise scheduling resources to enable a process called co-mailing. It helps magazine publishers and other mailers pool their circulations to maximize their postal discounts. Historically, co-mailing limited the ability quickly to track and trace the publications. RR Donnelley’s innovative new Print Track&Trace program allows customer service and other representa-tives to provide this vital delivery information in just minutes to the many users of our co-mailing program.

Digital Pipeline. As organizations seek to cut through the clutter with precisely targeted 1:1 communications, our innovation pipeline is delivering proprietary high-speed digital color imaging devices. We are helping customers fi nd the optimal mix of digital and classic printing for more powerful, responsive, cost-effective communications.

Global Document Solutions. (3) A joint fi nancial printing venture in the United Arab Emirates and the acquisition of Canadian Bank Note’s fi nancial printing business extends RR Donnelley’s network that serves the world’s fi nancial centers across 43 countries. (4) In an important environmental sustainability initiative, RR Donnelley’s China platform joins every one of our North American production facilities in earning Forest Stewardship Council chain-of-custody certifi cation.

RR Donnelley’s clear, well-executed strategy is centered around expanding quickly into the regions, segments, and technologies that offer the greatest opportunities for growth.

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The launch of CustomPointSM Intelligent Print Management links premedia, production, logistics, and business services offerings through a single, proprietary portal. RR Donnelley customers can initiate custom digital printing from anywhere in the world with Internet access.

Digital Asset Management

DocumentDesign

PreferredSupplierNetwork

GlobalWarehouse

Kitting &Fulfi llment

CustomizedDocuments

CURRENT MEMBERS OF THE BOARD OF DIRECTORS*

Mark A. Angelson 56, Chief Executive Offi cer, RR Donnelley. Director since 2001. Background: Print and related services, mergers and acquisitions, law.

Robert F. Cummings, Jr. (2,3) 57, Retired from the Goldman Sachs Group, Inc., and Managing Director, GSC Partners. Director since 2003. Background: Financial advisory services. Directorships: ATSI Holdings, Inc.; Corning Inc.; Precision Partners, Inc.; Viasystems Corporation.

Judith H. Hamilton (2)62, Retired President and CEO, Classroom Connect Inc., division of Harcourt Inc./Reed Elsevier PLC. Director since 1995. Background: Information technology. Directorships: Artistic Media Partners, Inc.; Market Tools, Inc.

Thomas S. Johnson (3) 66, Retired Chairman and CEO, GreenPoint Financial Corp. Director since 1990. Background: Banking and fi nancial services. Directorships: Alleghany Corporation; The Phoenix Companies, Inc.; Federal Home Loan Mortgage Corp. (Freddie Mac).

John C. Pope (1) 58, Chairman, PFI Group, LLC, and Waste Management, Inc. Director since 1996. Background: Airline and railroad equipment industries. Directorships: CNF, Inc.; Dollar Thrifty Automotive Group, Inc.; Federal-Mogul Corporation; Kraft Foods, Inc.; Waste Management, Inc.

Michael T. Riordan (1,3) 56, Former Chairman, President and CEO, Paragon Trade Brands, Inc. Director since 1999. Background: Paper industry. Directorships: Potlatch, Inc.

Lionel H. Schipper, C.M. (1,3) 74, President, Schipper Enterprises Inc., and Chairman, Fallbrook Holdings Ltd. Director since 2001. Background: Law. Directorships: Clairvest Group Inc.; Four Seasons Hotels and Resorts Inc.; H.O. Financial Ltd.

Oliver R. Sockwell (2) 63, Retired President and CEO, Construction Loan Insurance Corporation (Connie Lee) and subsidiary, Connie Lee Insurance Company. Director since 1997. Background: Financial services, insurance, education, government. Directorships: Liz Claiborne, Inc.

Bide L. Thomas (1) 71, Retired President, Commonwealth Edison Company. Director since 1987. Background: Production and sale of electric energy.

Norman H. Wesley (2) 57, Chairman and CEO, Fortune Brands, Inc. Director since 2001. Background: Consumer products. Directorships: Acco Brands; Fortune Brands, Inc.; Pactiv Corporation.

Stephen M. Wolf 65, Chairman of the Board of Directors, RR Donnelley; Chairman, Lehman Brothers Private Equity Advisory Board; Managing Partner, Alpilles, LLC. Director since 1995. Background: Airline industry. Directorship: Altria Group, Inc.

(1) Audit, (2) Corporate Responsibility & Governance, (3) Human Resources. Director service includes services as a director of Moore Wallace Incorporated, Moore Corporation Limited and Wallace Computer Services, Inc.

*As of March 23, 2007

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Corporate HeadquartersRR Donnelley111 S. Wacker DriveChicago, Illinois 60606-4301312-326-8000www.rrdonnelley.com

Annual Meeting of Shareholders The 2007 meeting will be held at 10 a.m. Central Time on Thursday, May 24, 2007, at the Renaissance Chicago O’Hare Suites Hotel, 8500 Bryn Mawr Avenue, Chicago, Illinois 60631.

Stock Exchange Listings New York Stock Exchange, Chicago Stock Exchange. Symbol: RRD

Investor Relations Shareholders, securities analysts, portfolio managers and representatives of fi nancial institutions seeking information about the company should contact Investor Relations at the company’s address, by calling 866-425-8272 or emailing investor.info@rrd.com.

Ordering Additional Annual Reports RR Donnelley’s 2006 Annual Report may be obtained without charge by completing and submitting the form at our website, by writing to Investor Relations at the company’s address or by calling 312-326-8018 during business hours.

Forms 10-K & 10-Q A copy of our Annual Report on Form 10-K for fi scal 2006 is included with this document and available at our website. Additional copies of our Annual Report on Form 10-K or interim fi nancial reports fi led with the SEC may be obtained by contacting our Investor Relations Department at 866-425-8272.

Corporate Social ResponsibilityCorporate Social Responsibility may sound new, but the concepts and principles behind it are not. RR Donnelley has a deep and abiding commitment to being a responsible corporate citizen which dates back more than one hundred years. Please visit the RR Donnelley Corporate Social Responsibility report at www.rrdonnelley.com for detailed information on our company efforts relating to:• Diversity and Inclusion • Environmental, Health and Safety • Ethics and Compliance • External Affairs/Community Relations • Wellness Programs

Stock Transfer Agent and RegistrarComputershare Trust Company, N.A.P.O. Box 43069Providence RI 02940-3069Telephone:Inside the United States: 800-446-2617Outside the United States: 781-575-2723Operators are available 9:00 a.m. to 5:00 p.m., Eastern Standard Time, Monday-Friday. An interactive automated system is available around the clock every day. Internet: www.computershare.com

Reinvestment and Direct Deposit of DividendsRR Donnelley shareholders have the opportunity to increase their holdings through a Dividend Reinvestment Plan, which permits either dividend reinvestment, voluntary cash investments or both, without incurring brokerage commissions or other administrative costs. Also, RR Donnelley shareholders may elect to have their dividends directly deposited electronically in a checking or savings account. Shareholders may request additional information about the Dividend Reinvestment Plan and direct deposit of dividends by writing or calling the Stock Transfer Agent.

Information ContactsComputershare Trust Company N.A. Automated Telephone Response Center may be reached 24 hours a day at 800-446-2617. Operators are available from 9:00 a.m. to 5:00 p.m., Eastern Standard Time, Monday-Friday, and will perform the following functions over the telephone when a shareholder identifi es his or her account by providing a taxpayer identifi cation number, registration of the securities and the address of record: • information regarding stock transfer requirements • address changes • replacement of dividend checks • duplicate 1099 forms and W-9 tax certifi cation forms • transcripts of shareholder accounts • duplicate reinvestment statements • requests for dividend reinvestment brochures and authorization cards • information regarding the direct deposit of dividends. Requests for information on topics not covered here should be sent in writing, with reference to the company, to the address noted above for the Stock Transfer Agent and Registrar.

Safe Harbor Statement This document includes forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future results. When we use words such as “anticipates,” “believes,” “expects,” “estimates,” “intends,” “plans” and similar expressions, we do so to identify forward-looking statements. Our actual results may differ materially from those anticipated in these forward-looking statements, which involve assumptions, risks and uncertainties.

As of December 31, 2006, the Company had approximately 53,000 employees.

As of February 15, 2007, there were approximately 10,103 stockholders of record of our common stock.

CORPORATE INFORMATION

Production NotesForm 10-K printed in the United States by Hillside Printing, an RR Donnelley company.

Cover and narrative printed in the United States by Bruce Offset, an RR Donnelley company. The 4-page cover and 8-page narrative printed using 4-color process inks, 2 PMS inks, overall gloss UV coating and a strike-through spot dull varnish. Both cover and narrative were printed on a 40”, 8-color Heidelberg Speedmaster CD 102 with in-line UV coating. All paper stocks used in this Annual Report are FSC certifi ed.

Chicago, Illinois312-326-8000www.rrdonnelley.com

The Forest Stewardship Council (FSC) is an international non-profi t organization that has developed principles that defi ne and promote responsible management of the world’s forests. RR Donnelley supports responsible forest management with more than 90 FSC certifi ed facilities worldwide.

Cert no. SCS-COC-00648

Global Products and Servicesbooks • business communication services • business process outsourcing •catalogs • commercial print • direct mail • directories • distribution, logistics and print fulfi llment & kitting • document outsourcing & management •e-business solutions • fi nancial printing and communications • forms, labels and offi ce products • magazines • premedia technologies • product usage documentation and in-box materials • retail inserts • RFID and barcoding •supply chain management solutions